PART 1N.I.THE INDEPENDENT FINANCIAL REVIEW PANEL

Appointments, etc.N.I.

Appointments to the PanelN.I.

4—(1) The Chair and other Panel members shall be appointed by the Commission.

(2) Each appointment shall be for a term of 5 years from the date of the appointment.

(3) A person may not be appointed to be a Panel member if that person has already been appointed to be a Panel member on two occasions.

Disqualification from membership of the PanelN.I.

5—(1) Schedule 1 makes provision as to the persons who are disqualified from being appointed or serving as Panel members.

(2) The Commission may by order amend Schedule 1.

(3) An order under this section shall not be made unless a draft of the order has been laid before and approved by resolution of the Assembly.

Termination of membership of the PanelN.I.

6—(1) The appointment of a person as a Panel member ceases—

(a)on the expiry of the term for which that person was appointed;

(b)if that person resigns by giving notice in writing to the Commission;

(c)if that person becomes disqualified from being a Panel member; or

(d)if the Commission dismisses that person under subsection (2).

(2) The Commission may dismiss a person from office as a Panel member if it is satisfied that—

(a)the person has been convicted of a criminal offence;

(b)the person has become bankrupt [F1or is the subject of a bankruptcy restrictions order][F2or has had a debt relief order made in respect of him or is the subject of a debt relief restrictions order] or made an arrangement or composition with the person's creditors;

(c)the person has without reasonable excuse failed to discharge the functions of a Panel member for a continuous period of 3 months beginning not earlier than 6 months before the day of dismissal;

Administration and financeN.I.

Annual reportN.I.

9 The Panel shall, as soon as practicable after the end of each financial year, provide to the Commission a report on the performance of its functions, including the use of resources, during that financial year.